Weekly Market Update (Week 6, 07/02/2022 – 13/02/2022)

BTC jumps to a four-week high last Friday, up 26%. BlackRock is reported to offer crypto trading soon. Crypto.com signs 9-year sponsorship deal with F1Miami.

Key Takeaways

• The cryptocurrency market has been juggling between highs and lows in recent weeks. Bitcoin (BTC) jumped to a four-week high on Friday, up nearly 26% from 22 January, but it was up barely 1% at $42,390.92 on Sunday.

• BlackRock is reportedly gearing up to offer crypto trading services to its investor clients. This will allow investors to borrow from the world’s largest asset manager by providing cryptocurrencies as collateral.
• Crypto.com has signed a nine-year sponsorship deal with Formula 1, which will see Crypto.com become the official title partner of F1’s newest race, Miami Grand Prix, with its logo featuring on the podium and winners’ trophies.
• The general price and volume indices were positive at +0.38% and +22.24%, respectively, while the volatility index was negative at -18.59%.

Highlights

• EU to introduce bill next year to plan a digital euro
• Bitcoin makes huge leap to cross 50-day average for the first time in 3 months
• Russians’ dormant Bitcoin wallets on a steady rise for the last 18 months
• KPMG in Canada adds BTC and ETH to its treasury
• El Salvador plans to issue first bitcoin bond next month
• Intel to enter crypto space with blockchain accelerator shipping later this year
• Microsoft Corp. seeks for a crypto business director to build its Web 3.0
• Uber plans to accept crypto payments, CEO Says
• ​​Bitcoin made over 1,300 new millionaires in the last 30 days
• Ethereum beats out Walmart, Mastercard to be 25^th largest asset in the world
• BlockFi faces $100M in penalties over crypto interest accounts: Report
• Bitcoin network hash rate explodes to a new all-time high of 248.11 EH/s
• China’s CDC proposes a blockchain and 5G-based solution to global vaccine tracking

Check the latest prices on Crypto.com/Price.

Market Index Tokens

Notable Events

• Cardano (ADA) has launched the latest version of the Daedalus wallet, bringing vast improvements and addressing issues like blockchain verification progress. ADA has thus surged in value and currently has a market capitalisation of $37.8 billion. (ref)
• Ethereum’s (ETH) lagging price and high volatility followed a recent announcement by Federal Reserve Chairman Jerome Powell that the Fed will likely begin increasing rates in March to counteract continued rising inflation. (ref)

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